Colombia: Demand for vehicles boosts industrial production in January
March 24, 2011
In January, industrial production increased 6.2% over the same month the previous year, which came in above the revised 3.9% growth registered in December (previously reported: +4.0% year-on-year). The January expansion was driven by a buoyant automobile industry, supported by strong growth in production of chemicals and plastics. A month-on-month analysis points to a much worse development than implied by the annual figures, as industrial production contracted 9.32% over the previous month (December: -2.71% month-on-month). Nevertheless, the trend continues to improve, with annual average growth in industrial production rising from 4.6% in December to 4.9% in January.